surprising to have some excuse come along to people. have people rediscover these old blue chips and see if maybe that they're under owned and can can have some upside. >> it takes a lot to kill a storied brand, i guess. yes. >> yes, without a doubt. you can. you can put them on the sidelines for a while, but they tend to come back. >> all right, mike santoli. thank you. now, as we recap what happened in the markets today, all the major averages, at least the three big ones dow, s&p and nasdaq higher today, particularly the nasdaq. the russell though that was the laggard down just fractionally. that's going to do it for overtime fast money starts now. >> live from the nasdaq market site right here in the heart of new york city's times square. this is fast money. here's what's on tap. another record for apple. it's been on a bit of a stealth rally the last couple of months. we'll ask the traders of apple still has appeal an inflection point. what the chart master sees in

the oil world that makes him a buyer right now. plus a big bitcoin bounce back above 90,000. boeing takes off on optimism over strong deliveries. and what happened to costco? the once unstoppable, unflappable warehouse retailer has been lagging walmart all year. we'll talk about why and what to do now. i'm not melissa lee. hi, everybody. i'm brian sullivan, coming to you live from studio b at the nasdaq on your desk tonight, tim seymour, carter wirth, dan nathan and jamie dimon. we have got a lot to do this hour, but let's start with another record close for apple shares up again today. apple now has a market cap of more than $4.2 trillion. that is close to taking the crown from nvidia. and guy. if you go for the ground, you best not miss. and that is a title, by the way, that apple has not had since april. now it was a rough start to the year for apple. you know that in fact many

people out saying this stock was rotten because the company does not have a clear ai strategy. but all tim cook and company have done lately was to outperform the broader market over the last one, three and six months. all this, as you may have heard, guy, we're in an epic multitrillion dollar battle over technology and ai. good to see you, guy. what did maybe people get wrong about the apple story? >> it's great to have. we like to welcome you, as you know. >> hello to munchkin. >> welcome, brian. yeah. no. >> not to know. just to the show. >> okay. >> by the way, i want people to know that we all came in. everybody seems to be in a bit of a mood, but we're going to turn that frown upside down right now. >> that's a smile. >> not an upside down frown. >> are people like me have gotten it wrong? people like tim seymour have not. and what i think is happening now is the fact that maybe they were late to the ai game is actually an advantage for them. and some of these other companies that have been spending wildly are now

being, i don't know, punished in a way and apple sort of winning to this. and listen, i've had a problem with valuation with apple for quite some time. obviously that's been misguided. apple wins the passive investing in over 400 etfs, of which it's one of the top 15 holdings. it wins on down days as well as it's a flight to safety. if you can sort of wrap your head around the valuation i mean it's it's a great story right now. >> well, it's definitely a valuation that has been a big part of at least the pushback in a world where they're not going to give you the kind of growth, even that they might have given you the last couple of quarters, whether it was a bit of a pull forward, whether it was a liberation day pull forward, when and certainly where we are in the holiday season. but but guy nailed this. this is this is a stock. we've seen rotation. people were underweight. i think it's as much technical in terms of how owned how under owned some of the dynamics of a chart that took two years, maybe three years in. carter has probably the exact dates on this where this stock was struggling to get to 200, came up against that level a couple of times,

then got through there and slowly started to build higher. it's moved from 200 to 280 since april without any real news other than the doj. other than some much better follow through and demand on the new iphone other than asps on the 18 offsetting the 17, and the fact that this company doesn't need to spend on ai, because ultimately it will be the vehicle that serves it up for most people. that's why i own it, and that's why i think. >> the idea then that what you just said is apple going to be a winner because we all have this. nonetheless, we don't care who the ai bot is, we're going to use it on this thing anyway. >> i think until there's something other than a smartphone. and i know there's been some threats of that over the last 18 months from some other people, including people that used to be inside the apple bubble. but yeah, i think the smartphone is the way that most people will actually be engaging in ai. i think the app community, the developers community, all the places where apple has an enormous amount of power, i think we still haven't even seen them go there. >> yeah, so not to beat a dead horse, it really is about that 8% of revenue of r&d, right,

relative to, let's say, 25% of these major hyperscalers and even meta, right, that they've been spending over the last couple of years. and again, it started out as something well, they're behind the eight ball here. they don't have a product that they can actually put on this huge distribution platform. they have basically 2 billion ios devices out there in the world. and when you think about it right now, i mean, most of the mag-7 other than apple and google, are down about 10% from their recent all time highs. so you've seen a little bit of a, i don't know, you know, a dispersion, if you will, and a focus on a couple of names that are right now perceived to be the winners. and maybe because they actually are attached to the hip in many different ways. right. so google pays $20 billion a year for exclusive search on ios devices on safari. apple just turned around and paid $1 billion. it's a rounding error to google to use certain gemini technology for their new siri whenever they launch that. right. so it's about spend, it's about distribution. and, you know,

the apple thing to me is kind of curious that there's so much focus on a company that actually doesn't innovate on this front. right. like siri is a disaster. and we actually have a lot of questions about what they are going to be able to do with this existing platform. but in the meantime, folks seem to be pretty happy about this upgrade cycle. i didn't think we were going to see a supercycle, but we clearly had. maybe what tim's talking about is a little bit of a pull forward. >> we'll get more on google in a second. and carter, i want to come to you because i want you to look at the chart. >> what it really is, is remember, it's all about where the money wasn't. apple, as you cited, is outperforming one month, three months, six months. but apple since q4 of 2022 to now, q4 of 2025 has gone up 85%. the tech sector is up 160. this is one of the biggest laggards in the sector that simply playing catch. >> up over what time period. >> last three years okay. right. so the tech sector up about 180 this up half that. so this is a stock that's lagged that was out of favor meaning its

relative performance peak was over three years ago. it's simply playing catch up. that's all this is. >> can we throw up a ten year chart of apple. because i think this will go right to carter's point. so a fair point. but okay, let's go back further. i want to go back ten years. apple is a $25 stock. ten years ago today $25 stock. it's now at 2.86. it's gone up tenfold in that time. but your argument is in the last three years, not the performer. so how much of this performance do you think carter is? just technical, catching momentum. >> meaning people know that the other things were quite full. right. think about the other big laggard. it was google. apple and google were the laggards. it was meta. it was netflix. it was avago. it was it was nvidia. and then the two biggest laggards are the ones that have been the best performers. >> you know we're talking about 10% eps growth. and i'm probably being a little bit generous there. and we're talking about high single digit revenue growth with margins that have been improving slightly but been flatlining for the last couple of years. i

get it's a remarkable, remarkable company. and the installed base is historic. however, i think the market is rewarding them in the form of the valuation. so, you know, we talk about this when it was a growth stock 7 or 8 years ago, it was trading at a value stock valuation. now that it's a value stock, theoretically it's trading with a growth multiple, something i think has to give at some point. >> you know, the comment that carter made, tim, about alphabet and we could maybe throw up alphabet as well. google's parent company is so interesting because alphabet has been another name that is just the last couple of months. kind of like, i don't want to say come out of nowhere. >> no, you. can say stratospheric. no, you. >> my point. >> i wonder how much of that is just the catch up trade versus looking for the fundamental reason why this is happening? >> well, because google's core business and search and the existential threat from ai to what they've always done at their core was that much more extreme than it was for apple. that's why this parabolic move

is that much more extreme than that move of apple. but both of these, as we said, were were laggards. you can't underestimate that day. and the doj took the pressure off of a relationship that, as dan pointed out, is very symbiotic for both sides and very beneficial for both sides. and by the way, the optionality for apple is that, that, that, that that relationship was carved out. but it doesn't mean that they don't have optionality to go in other places going forward. so they're kind of in a position to be a consumer themselves of the best ai trade through the vehicle that we all know, which is this 2.4 billion installed base. so i just think that google to apple move is very much reminiscent of the google apple pessimism, which on the downside was that much more for google than apple. >> yeah, i'd say also on the google they've been building out gcp. right. so that's their cloud business. there are number three behind azure and aws. and so when you think about this spend you know they're going to actually have this compute, this infrastructure that other companies are going to be able to rent. they're going to be able to access the gemini

models. and then you think about they have three properties. if you think about android, you think about workspace and you think about chrome that have over 3 billion monthly active. so they're able to distribute all of this technology, the gemini throughout that i don't know about you guys. i'm done with chatgpt. i'm done with. >> why. no i agree, i'm done with it. >> guy had all of that. guy had all of them. he had claude, he had gpt, he had perplexity. >> you know, if you use google products, this gemini is working really, really well. you're not going to need multiples. and also the other thing about gemini, it's going to be throughout this whole system, folks, over the last 25 years have gotten used to searching for free. i don't think chatgpt main revenue driver right now, which is subscription to do searches and obviously to do a whole host of other things, is going to be something that has, in my opinion, a lot of longevity based on the. >> my, my one of the lead stories, the lead story this morning on cnbc.com, you probably saw it was that sam altman who runs openai, kind of issued an internal memo, a code red internally basically like

we've got a we've got a challenge. they've been the leader for three years. openai's chatgpt kind of strutting around in and all of a sudden alphabet and google have come out, i don't want to say again, come from behind, but they have they have come out of semi-obscurity because people said they were dead. yeah. but they all do dead money. >> they all do. >> they've lost the. >> they all do different things. right. so claude from anthropic, it's a good coding assistant. right? gemini works really well on this suite of products that we just described. right. chatgpt was that first search experience. right now all of them are moving into images and video and all that sort of stuff. it's my view, and i'm not a technologist, that a lot of these are going to be commoditized right at the end of the day. so, you know, you can pick your horse right now, but pick the horse that is actually most useful to you in the things that you need it for, whether it's personal or whether it's for professional reasons. does that make sense? >> yes, because i love to use the horse analogy, because i was actually going to reference seabiscuit in the race against war admiral when it came from behind. but then i realized, i.

>> don't think you can reference seabiscuit as if it's so common of a reference that people understand what you're saying. >> that's why i didn't. >> do it. okay, well, we just did it. >> it's a great comeback. >> story, though. can i can i just get back to the trade here on google and apple? i'm not sure you're chasing these things right here. okay. after a 50% move in google and after a move in apple, i'm very happy about, i'm not sure this is time to pile in. i don't think what i'm hearing on this desk is something suddenly changed on the fundamentals. and we all know the valuations are challenging. i think there are two stocks you can be long, and i think what we've established here is that these are two companies that are going to still be strategic and core in the ai space for a long time, but this has been one heck of a move. >> well, let's stay exactly on that, because your first guest tonight says you got to put money in the market, of course, but you don't just throw it against the wall of ai and hope that it sticks. you have to stay focused. evan brown is head of multi-asset strategy for ubs asset management. you've been very patient. you've been listening to this conversation. where do we put

money right now in ai, given what tim and everybody here has just talked about good companies but concerned about valuations. >> and were you lost on the seabiscuit reference? >> i was not lost on seabiscuit. great movie, great movie. >> then i stand corrected. you know what? sorry. >> one man doth not a trend make. it's okay. >> no, look, i mean, i think what we're seeing right now is really encouraging in that it's not everyone throwing all this money at the wall. at the wall, we're seeing more discerning price action. we're seeing a little bit more like a decline in correlations between these, these names. and so for the market that's been talking about a bubble and this and that, i think what we're seeing is quite healthy. we've seen the hyperscalers. the correlation has gone from 80% three months ago down to 20%. why. because we're seeing some, you know, in the in the gemini ecosystem that doing a little bit better. and you're seeing in the, in the chatgpt ecosystem a little bit a little bit worse. and so, you know,

the market is becoming a little bit more discerning. >> so so the idea being if i'm hearing you right, for the folks in back, if everybody had just put a bunch of money into all 6 or 7 of these companies, they made a fortune. they made a lot of money the last five years. there are better and more strategic and targeted ways to make money now than doing that. >> yes. so i think, you know, what we've seen since chatgpt was released was all of these names have just, you know, shot higher, some underperforming, some outperforming. but overall, you know, if you own the index that was that was enough. but now i think we're turning to an environment where there's there's more stock selection. this debate that you guys are having right here i think is an important one. and it's showing that there's going to be a lot more dispersion within these names. >> evan, do we spend too much time talking about the fed? is it a bit of a sideshow now, or is it as important as people like me make it out to be? >> i don't think it's that important right now. i think right now the main story is, is

earnings. and you know, we everyone was focused on the on the fed and sounding a little bit more hawkish. but in the meantime we had a q3 earnings season that was just knocked the doors off once. once again look i think the fed will matter if the labor market deteriorates further. we are seeing it continue to cool. it's not unraveling yet. and so then we'll become a little bit more focused on the fed. but over now i think right now i still still think the story is just earnings and them remaining strong. >> so i won't go back to the ai thing. right. so you just mentioned the term dispersion right in the public markets. but there's a pocket of risk that i don't think is properly appreciated. and that's like a name like openai. right. so you have this code red that you just talked about. now, sam altman, when he puts out that memo, he knows it's going out to the world. so let's be really clear about that. his intentions, who knows. but if you think about all of these private companies that are chasing after the same thing, which is agi, right? there's probably $1 trillion of worth, where do they raise all that money from vc? where do they raise all that money from pension funds and insurance

funds. so my opinion, there's a pocket of risk that is not being appreciated. if you ever got real marks after a code red, after you see all the customers of openai and all the interchangeable, if they get marked down, then a lot of those folks who have these investments in private markets, what do they have to sell? they sell the things that are liquid. do you see something coming in 2026 where all of this circular investment and everyone else, maybe you see air come out of the private markets, which causes some sort of, i don't know, some event in the public markets. >> yeah. i mean, i think there there's pockets of excess in the private markets. there's also pockets of excess in the public markets as well. and we've seen that in, you know, whether it's crypto or quantum, all these things coming down to earth. and so i think there are kind of public market proxies for excess and speculation. no doubt it's happening in private markets as, as well. and they're going to be winners and losers in this game. >> evan real quick where's the consumer. are you allocating. and are you thinking about places in retail and

discretionary which there's argument on both sides of the fence here. >> yeah i mean ubs just had a conference today on the consumer. and really what we're hearing is that the consumer is doing a lot better than what you're actually seeing in the macro data. this is what we're hearing from from companies. and so, you know, we still have this split between those better off and the low income consumer. but coming into next year we'll have the tax rebates coming through. i think that will support the consumer. and i think also just the politics are shifting in a way that tariffs are probably going to be actually coming down and that there's all this focus on affordability. we might see the effect of tariff rate actually coming down next year as opposed to going up. >> evan brown of ubs, evan, really appreciate your views. thank you very much. very quickly, guy evan talked about tariffs coming down. there is a chance if it's up to the supreme court tariffs go away. and then like costco suing today. and we'll talk about it in a second with eamon javers. there might actually be a lot of money coming back to

companies which could pop eps. yes, the supreme court rules or legal. >> or a lot could happen here. like what does it mean. what does it do to inflation? what does it do to the broader market? there's a lot of unknowns that i don't know if it's a good thing or a bad thing. by the way, evan brown, who is now left the set, attended and graduated. oddly enough, brown university. >> yeah. no, it's. >> i mean, it's beautiful. >> it's the kind of stuff you learn here on fastenal fast, but no one otherwise. >> well, here's the other thing on the eps front. >> seabiscuit or brown university. >> film part of it at brown. >> let's bring it back. >> i thought the horse was. >> brown, too. this is. >> you know what? >> so this tax bill, you remember this, this b-b-b thing, you know, that was put through earlier in the year? i mean, that's going to be a huge, i think tailwind obviously for eps. so if you also have this issue with the you know, i mean, listen, at the end of the day, politically, one of the best things that could happen for the trump administration is the supreme court striking these things down and then seeing that tailwind from obviously the tariffs and the money

coming back. and then obviously, you know, the benefit of the tax. >> did you order the code red. >> the pro the pro trump view from from dan nathan over here. >> yeah. well sorry i was thinking about colonel jessup for a minute. >> that was tremendous. >> about colonel mustard in the library with the candlestick. in the meantime, president trump holding a cabinet meeting earlier today, eamon javers has the latest from the white house. also talking all day about what we just talked about eamon of course. tariffs. >> yeah. hey there brian. there was this burst of attention back on sunday when president trump told reporters that he decided on a fed chair and a lot of speculation that we could see that announcement coming this week. but in ts cabinet meeting this afternoon, the president said even though he's down to just one name for fed chair, he won't name that official until early next year. so no announcement coming this week. and on a separate economic issue, the issue of affordable ability tt's been motivating voters at the polls this fall, the president bristled when he was asked a question about whether the american people are getting impatient with high prices. here's what he said. >> about affordability is going

forward. are the american people do you believe getting impatient with the reforms that you're making? they've talked about it's about. >> i think they're getting fake news from guys like you. look, affordability is a hoax that was started by democrats who caused the problem of pricing. >> so the president, they're dismissing the whole political issue of affordability as a hoax ginned up by democrats who were to blame in the first place. he's taking a risk in doing that. of course, with midterms coming up next year and democrats really building their campaigns on the idea of prices for just about everything in america are too high. in the end, voters are going to decide which party they trust the most to lower those prices. brian, back over to you. >> all right. eamon javers at the white house eamon, you've had a long day. appreciate it. thank you very much. all right folks there is a lot going on right now coming up here on fast money. we're going to get results that are moving crowdstrike, marvell and more.

plus all today's fast movers. the big bitcoin bounce back the surge in mongodb and why boeing suddenly tim flying high again. >> yes brian. >> all your business, it's time

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to healthcare. >> all right. welcome back. it is time now for an earnings alert. we've got one on crowdstrike stocks not really moving much down a touch. it posted top and bottom line beats the crowdstrike conference call kicking off at the top of the hour. seema mody here with more on the details. seema. >> hey brian. crowdstrike ceo george kurtz reinforcing this idea that the company is becoming a key enabler of securing ai with the right architecture and how that is driving enterprise adoption. there's two metrics that really illustrate this in the earnings report third quarter annual recurring revenue and subscription sales, both beating estimates, with its fourth quarter guide coming in higher than analysts consensus. i guess the question now is how much of this growth story is priced in, with shares up about 130% from that august 2024 low, outpacing its peers in the cybersecurity space. wall street remains bullish with 27 buys. wells fargo has a $550 price target, and analysts there, they remain focused on how how crowdstrike plans to

make security fully autonomous and how its acquisition of pangaea, which secures ai agents, is being integrated across the entire stack. that's a big question going forward. >> brian seema mody simon, thank you very much, dan. nathan, crowdstrike stock's not moving right now. i know it's very, very early thoughts macro crowdstrike. >> yeah i mean this is something we've talked about this name going back to two summers ago when they had that huge leak or what was it guy. what was that thing. it was a hack not a leak. you could see how you get those mixed up. but but again, this is a company that has always traded at a multiple and you know, one that's kind of uncomfortable. so you better believe i guess in the fact that we're going to keep getting hacked one way or another. and it just seems like a space where folks come back to because of the demand across so many different industries. so to me, the fact that it's not moving, i think it was an 8% move in either direction is pretty fascinating. >> i think buyside expectations on this were pretty reasonable going into this, and therefore you could have set up for a disappointment. you could also

have been picking on the valuation for the last five years in this name, and trading at 20 times sales. it's something that i think the growth rate is sustainable. i think as we talk about the different pockets of where people are spending and aren't going to stop spending, this is one of them. >> one of the. it is amazing to me, though, that you had one of the biggest hacks of of all time happened to crowdstrike. i mean, it literally shut down airlines. yeah. and like it mattered for a day. >> longer than a day. >> but i. >> mean, being a little facetious, but you get my point. they were in the penalty box for quite some time, but then you come to the realization that, wait, this is a pretty remarkable saas business. and you look at their look at the revenue growth chart. i don't know if our crack staff can put it up, but it's a thing of beauty. and now you're talking about 22% revenue growth year over year. and yet the valuation is ridiculous. but you know, this is one in the space probably behind palo alto. but i think you stay with the name. >> stay with the name. all right. we've got we're going to stay on the chips. we've got another earnings alert, this

one on marvell technologies. it reported earnings. it reported revenues. they both slightly beat wall street's primary estimates. shares though initially lower but now for some reason sharply higher. we brought in christina partsinevelos to tell us what that reason for the reversal may be. >> part of that has to do with them guiding their data center revenue. so data centers contribute roughly 73% of total revenues. this according to management. on the call, they said the revenue is going to be up 25% in fiscal 2027, which ends january 2027, not counting any revenue from celestial ai. so they also announced in their press release that they're going to be acquiring celestial ai for about $3.25 billion. they said on the call that they would not be taking out any extra debt to fund it. they have a strong balance sheet. i know that is very topical in this day and age. so that's point number two. and we can talk about what celestial ai does if you want. third one is the custom business. and this is where they compete with broadcom. they said on the call that the custom revenue forecast they've already seen a transition to their next

generation ai chip with a large customer. they didn't name the large customer but that customer. there's already been purchase orders for the entirety of next fiscal year's current forecast for this next generation program. in other words, somebody bought a bunch of next generation ai chips, custom ai chips, a big company, so this could be perceived as a win for the firm. and this data center growth also. >> fair point. but tim seymour stock is asking acting marvell us right now. but i will say it was $124 stock at the beginning of the year. it's popping to 107. i'm not a math whiz, but 107 is below 120 for the stock. has not been a hot performer this year is my take. >> no, but i think it's the expectations here were something like 18 to 20%. and i think the delivery of that is something that's not only a big relief, but i think it really does show that there is growth that's relative to the valuation. so we've seen a ton of volatility in this space. and i do think that's warranted

given where things have been moving around. but this reaction based upon expectations going into the numbers to me totally expected. >> is it just me or are we seeing more big companies and marvell is a big company. have these ten and 20% moves on earnings. it just feels. >> it feels that way. but historically, you see typically when something is such an outsized beat or miss, it's 10 to 20%. for instance, if you look at the 50 analysts that cover this stock, their 12 month price target is $93. it's printing 107 right now, so all of them will raise their price targets tomorrow morning in response to the price. but wall street doesn't expect much of this. this kind of thing is what you get when people are caught sort of offsides. >> interestingly, the ceo in september bought $1 million worth of stock, and the stock has gone up ever since then because people are wondering what did he what does he know that we don't? and i guess now we can see as an example is data center win with their new custom design and celestial ai.

>> yeah. and this goes back to some of the excitement around meta obviously or not obviously, but potentially buying these tpus from, you know, from google, which would be competitive to nvidia. but when you look at marvell and you look at their expected revenue, this is $9 billion in fiscal 2027, and that is a rounding error on the 200 billion that nvidia is going to book this year and possibly 300 billion. so when you want to kind of make that argument about competition coming for nvidia, marvell is not part of it. and yes, i get it. meta. microsoft, amazon, google, they're all their largest customers into parts. point is like one of them are probably this customer, one of those big hyperscalers. and they're trying to get a second source from nvidia or a third source, that sort of thing. but right now, i think nvidia is probably more worried about tpus and more worried about what broadcom is doing with some of their biggest customers. >> but they're in there. but marvell. >> is i wouldn't discount like i understand that this is no major threat to nvidia, but it's part of the greater conversation that the custom market is getting stronger and stronger. you have various examples like you said, google. and we know broadcom has been in the game for quite some

while broadcom marvell doesn't compare in size. but i do think it's something to take up note because then that would take away from the magnitude of beats for nvidia. and that's all investors seem to care about. >> cristina thank you very much. marvell up 15%. all right. going from ai to crypto because we had a big crypto comeback for bitcoin and others today. we'll also talk more about the ares surge in mongodb and the delivery promises, giving boeing a big boost lately as well. it is 530 here on the nose on the east coast. you're watching fast money live from the nasdaq market site. we are back right after this. >> everybody. >>

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apply. >> all right welcome back to fast money. it is december 2nd. we had kind of a lousy december 1st stocks rebounding after yesterday's pullback today. the dow jumping nearly 200 points. the s&p up a quarter of a percent. now just about 1% away from its record high. because we're actually up six of the last seven sessions. the nasdaq leading the gains up more than half a percent inside the market. shares of american eagle, the clothier, jumping

after hours up more than 10%. they topped earnings. they topped revenue estimates and they raised their forecast after the. yeah. sydney sweeney adds guess what? they brought in a lot of business. in the meantime mongodb, db, db, whatever. surging more than 22% during the regular session. that on the back of yesterday's earnings report apparently software provider lifting its forecast on its cloud database platform. it's gaining traction with customers. mongodb up 22.23%. and we had a big bounce in crypto. bitcoin climbing back above 90,000 after posting its worst day since march. on monday, other cryptocurrencies like ethereum, solana, ripple also jumping as well. bitcoin was at $80,000 two weeks ago. meantime, shares of procter and

gamble nearing two year lows. the cfo giving a warning about consumer spending at a major conference this morning and described the american market as the most volatile he has seen in a long time. pretty, pretty big words for a consumer products company that pretty much everybody uses or at least sees in the marketplace. and a major move in boeing today shares jumping 10%, its cfo saying the company expects higher 7.37 and 7.87 deliveries next year, as well as free cash flow growth in the low single digits. tim seymour, you've been on the boeing story for a long time. this has been quite a comeback as well. >> and like all the consumer the p&g cfo is referencing, this has been not a name that hasn't been all over the place, but the middle or the high single digits. maybe they were even a little more conservative than that. free cash flow growth next year. on top of the expectation that you get the seven 3710 max ten

recertification. these are huge, huge events for boeing. so i just you hang in there and you hang in there, and you hope that new management team better attention to detail, obviously a different relationship with their regulator and one that seems to be much less arrogant, much more focused on whatever we have to do right are part of the reasons why this is a multiyear holding of mine, and one i think i expect we're going to be in this trade for a while. >> quickly, guy, can we go back to p&g, throw that up? i know we got to go. guys. these are concerning comments from one of the world's biggest consumer products. >> potentially one of the most important consumer products companies cfo saying things. and he's probably sort of pulling the reins a little bit. but when you hear comments like that, it makes you say, seabiscuit. no, it didn't make me think or say. >> you said pulling the reins. >> oh, oh. >> i see what you. >> did there. see what i did there. i didn't even think of. >> it back in the saddle. all right. >> coming up. which, by the way, is a great aerosmith song. >> coming up. a few months in energy, but the chart master, carter worth carter worth says

the sector is at a major inflection point. we'll talk about where the energy may be heading when fast money ♪ in any business, you ride the line between numbers and people. what's right for the business and what's best for everyone who depends on it. solving today's challenges while creating future opportunities. it takes balance. cla - cpas, consultants, and wealth advisors. we'll get you there.

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since april, low this year, but still underperforming the broader market. however, the chart master says that energy may be reaching an inflection point and it could be higher from here. carter worth looking at the charts on energy. >> now let's get right to it. so we've got five identical charts. the first, as is always the case, has nothing on it. now let's put some things on it. the next shows a converging trend lines. we've reached a point where something is likely to happen. my judgment is up. but let's take it back a little further. the next you'll see is a longer term chart. again, this is one of the biggest winners over the preceding three years, only to stall and be sideways for the last two and a half. let's take it back even further. and here is that same circumstance where coiling for something to happen. we're essentially where we were ten years ago. last iteration. and you'll see that essentially the sector is the exact same level

it was in 2014, basically a decade ago. so the question is, is the entire s&p 500 sector, which is only 2.83% of the s&p, worth more or less than it was ten years ago? my hunch is it's worth more. that's what causes a breakout. >> the idea being that while the weighting in the s&p 500 may be less than it was because it was 14%. >> and as high as as high as 30 and 8082. >> wow. great. great pull there by you. but i would expect nothing less. the argument is that why is it such a small part of the market? when now? thankfully, we're talking about energy of all kinds every day. >> yeah. it's just there's no growth. if you think about over the past ten years, the sales are about the same as they were a decade ago. the net income is about the same. but i would say there's probably if you were to look at valuation, which is a terrible timing tool. price to book is lower. >> real quick i look at oil. i

think it's about to break through a three year downtrend. you look at halliburton and schlumberger, two of the biggest components of said oil, appearing to make a bearish to bullish reversal. i'm with carter on this and valuation. as carter said, it's not a timing tool, but at least it's not in your face right now. it's actually pretty compelling. >> it is amazing that the things that are going to power a lot of the ai stuff we talk about every day have not had anywhere near the returns as the ai. >> other than the presumption of nuclear being a big part of it. and, you know, it is fascinating. and i would just adding to the oil and to what carter just said about the chart, i mean, the oil relative to the s&p has been basing and sideways now since all the way back into may, which to me tells me that again, drillers, offshore drillers. hardly sexy here, but interesting. >> you know, i'm going to be here tomorrow night and there's a new etf. >> wait a second. is that breaking news? >> that is breaking news. >> we're excited about? are you excited, tim? i mean. >> negative against. >> we're getting we're getting the sequel of seabiscuit tomorrow. >> it's called secretariat. all right. coming up. >> i had nothing to do with

these. going further, even related philanthropy. >> how do you know they're not related? are you a bloodstock agent? >> whoa. >> that's. >> you know. >> what that was? tough words. i can never take that back. coming up, we're going to talk about giving back at a time when a lot of people need it as

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>> all right, welcome back to fast money, where it is giving tuesday. the global philanthropic movement started back in 2012 and last year helped raise $3.6 billion for charity. your next guest is the ceo of a company whose goal is to help some of the world's biggest companies push their philanthropic donation dollars even further by just being smarter about how they do it. groundswell ceo jake wood joining us now here on set. teaming up with a pair of big banks. jake, good to have you on set. really appreciate that. so how how does software and charity come together? how do you help and encourage companies to do more with their money through software? >> well, first, i think most employees today are looking for their companies, the companies that employ them to to do more than just drive profit. people are looking for purpose in and

out of work. and so i think the companies that are looking to best compete in that talent war are meeting that expectation. what we're trying to do with groundswell is to build a platform that allows companies to empower their employees to give back, whether that's their time, their talent or their treasure. specifically, we're doing that through donor advised funds, trying to make these tax advantaged, giving accounts an employee benefit more accessible to the everyday employee. >> all right, great founder. i met jake though prior to groundswell. yes. and you got a story that started out with giving back and many different ways. right. you were in the marines and then you started team rubicon. and i think a lot of folks who are watching this know what an amazing organization that is. talk to us a little bit about the through line from being the ceo and starting a firm or an organization like team rubicon, and then moving into, let's say, founding a company like groundswell. >> yeah, i'd say service has always been at the core of what i've wanted to do in life. and that started with serving in the marine corps. after college, i served in iraq and afghanistan with the marine corps. you know, tremendous experience serving my country.

following that, i actually accidentally started a nonprofit organization after the haiti earthquake called team rubicon. does disaster response humanitarian relief work, mobilizing military veterans to serve communities before, during, and after disasters? and i ran that for 11 years. the organization is thriving today. over 200,000 volunteers, over 1000 disasters and crises responded to. but about 4 or 5 years ago, i decided i was ready for that next. that next entrepreneurial adventure decided to start groundswell and raised venture capital money back in 2021. really just looking to disrupt corporate philanthropy and identify how we can unlock more generosity from these companies so we can drive more impact where people live and work. >> it's all about teamwork, too. you came from university of wisconsin, played on the football team there. go, badgers! you joined the marine corps. amazing work all about team, right? literally, you're keeping your partner alive. he or she is keeping you alive. you joined team rubicon. you created that. what can corporate america do better to become more efficient like a team? one of those teams that

you've been on to succeed. because a lot of companies we talk about around this table, they don't operate like teams. >> well, i think one of the things that we're seeing as a trend specifically in how companies give back, you know, historically companies have said, hey, this is what matters to the ceo. so we're going to cut a big check to this organization. and this is really about how do we democratize what companies are supporting by empowering employees to support what matters to them, then having having companies double down on that by matching those donations to really demonstrate, hey, what you care about, we care about too. >> well, jake, thank you for everything. number one. number two, tax reform, charitable contributions that has one would think that's going to sort of serve you well moving forward. is that something you pay attention to? >> and we're paying a ton of attention to this going into 2026. you know the one big beautiful bill i don't think i know has a bunch of implications for charitable giving. you know, a new 1% floor threshold for corporate tax deductibility. never seen that before. so i think there's going to be a lot of pressure,

particularly on small and medium sized companies. their margins have already been compressed with tariffs. are they going to be able to eclipse that 1% floor to continue to get that deductibility? i think we're waiting to see what that looks like. >> real quick. we want to get the captains of jake's team right here. you can tune in on these horrible little girls. >> all right. love you girls. >> look at that by the way with the changes to the big beautiful bill and the focus on tax dafs. so donor advised funds are becoming a big deal. and it's a great way to do well by doing good. >> yeah, it's a huge part of the strategy. i mean, the opportunity to to run what's called a bunching strategy, where you're pushing multiple years of donations into a tax advantaged fund, taking that immediate deduction, eclipsing that floor, giving that money out in subsequent years, a huge opportunity. >> it's great stuff. glad to come on here giving tuesday. it's an important day to be here. hope companies all around the country and world really are looking at their giving strategy. jake would do appreciate that. thank you very much. all right. coming up back to the markets, what happened to costco. right. we all talk

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>> costco today, joining the dozens of companies that have sued the trump administration. they want money back from the impacts of tariffs and they're filing. on friday, costco claimed it is no guarantee it will get its money back, even if the supreme court does rule that the tariffs are illegalif y issuarnd costco costco great company. a lot of people shop there, but the stock has been underperforming. its biggest competitor walmart up just fractionally this year walmart dan at all time highs. >> makes new highs every day. and you know walmart. you know from a business standpoint you think they're kind of similar right. they both trade at kind of interesting multiples that are higher than the market. and you know you look at costco and as carter would say, it was kind of godlike for the last few years. and now it's rolling over. it's down 15% from their recent all time highs. and you say to yourself, this sort of headline that just came out today, a week before their earnings, what are they kind of setting up for? so this one is really curious to me, especially when you think about

what the procter ceo just said. costco is the second largest holding behind procter in the xlp, the consumer staples etf. so this one very curious to me what they're going to have to say about a consumer and how the stock reacts. >> great points. and referencing some cautious comments on the consumer from the cfo of procter and gamble. up next it is your final trades.

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pops over the next couple of. >> weeks if they don't win the lottery. >> if they don't win. >> guy jake wood for those playing. guy's a stud. >> yeah. >> i mean, not only is he a stud, i mean, he's a tall, good looking, bad. >> good shot too. sniper. >> i didn't know that. but isn't it nice to have him on set? i'm going to take a picture with him in a few minutes. >> adorable girls too. those are. >> cute, cute, adorable slb, yes i do. we'll see you tomorrow, brian. i mean the de slb. >> slb all right